Vietnam will not probably import sugar because the domestic supply is enough to meet the demand of enterprises and people, the Saigon Economic Times reported.

The information was announced by Department for Agro-Forestry and Seafood Products and Salt Production under Minister of Agriculture and Rural Development (MARD) in the latest meeting with Ministry of Industry and Trade.

An official from the department said that the country produced 1.4 million tons of sugar the 2011-2012 sugar and sugarcane crop, which basically will be enough to meet the domestic demand so the import is not necessary.

In case the sugar price in last months of 2012 will be increasing highly, MARD will work with Ministry of Industry and Trade to discuss about the import of total 78,000 tons of sugar according to the quota in Vietnam’s WTO commitments.

In 2011, Ministry of Industry and Trade approved enterprises to import 250,000 tons but the output of 2010-2011 crop actually grew 26% on year to 1.14 million tons. So the ministry postponed the import of nearly 130,000 tons of total expected volume of 250,000 tons.

However, according to Vietnam Sugar and Sugarcane Association, because of the difference in selling prices between Vietnam and China, so this year some local sugar producers exported 150,000 tons to China, a part of them was smuggled via south western border provinces.

Source: Vietbiz.24